http://www.usatoday.com/story/money/2014/12/14/gulf-markets-plunge/20394845/
The head of the Organization of Petroleum Exporting Countries,
Abdalla Salem el-Badri, said Sunday that OPEC has no set price target
for oil, according to the Wall Street Journal.
His comment, made
at an event in Dubai, is likely to add further uncertainty to the
turbulent oil market. The price of a barrel of light, sweet crude fell
to $57.49, down from $98.17 at the end of 2013 -- a 41% decline.
OPEC said in November that it would keep production levels unchanged.
Surging production and slower-than-expected demand have kept oil prices
tumbling. Stock markets around the world have been unnerved by the
plunge in oil prices, currently at their lowest levels in five years.
Then I heard what sounded like a voice among the four living creatures, saying, “Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!”
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